Sta. Lucia Land acquires more assets in emerging cities

LISTED Sta. Lucia Land Inc. (SLI) remains aggressive with its expansion plans by acquiring more properties in key emerging cities in the country.

In a disclosure to the Philippine Stock Exchange on Thursday, SLI said it has acquired 31 properties totaling 53.66 hectares in areas such as Batangas, Laguna, Rizal, Quezon province, Baguio, Iloilo and Davao.

SLI said this was in line with its goal of beefing up its land bank for future developments in order to continue its strategic growth.

Earlier this year, the company acquired 107 properties across the country, translating to 4.184 million square meters of land. These properties are located in Rizal, Davao, Cebu, Batangas, Bulacan and Iloilo, among others.

In the same disclosure on Thursday, SLI also noted that it has entered into 16 joint venture agreements to develop a total of 97.28 hectares of land in areas such as Pasig City, Rizal, Batangas, Tagaytay City, Rizal, Nueva Ecija, Cebu, Iloilo and Davao.

Earlier this year, the company reported that it had also entered 23 joint venture agreements to develop a total of 3.66 million square meters of land.

“This brings to a total of 4.736 million square meters of land acquisitions and 4.632 million square meters of joint venture agreements for year 2016 to date,” the company said.

These transactions are in line with its plans of expanding in key cities and provinces, SLI has said.

In the first nine first nine months of the year, SLI posted net income of P534.1 million, a 4 percent increase from the previous year. Total revenues in the same period also rose 4 percent to P2.37 million.

“The stable growth in overall revenues is contributed by an increase in both real estate and rental operations of the group,” the company said.